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Canada’s benchmark stock index finished the trading day higher on Thursday as energy stocks benefited from rising oil prices. The S&P/TSX Composite Index closed up 83.93 points, or 0.42 per cent, to 20,265.37. The subgroups that added the most points to the index were energy, materials and financials. Canadian Natural Resources Ltd., Enbridge Inc., Suncor Energy Inc., added the most points to the index. JUDGE SIDES WITH ENBRIDGE Shares of Enbridge climbed 1.48 per cent to US$56.04 after a U.S. judge sided with the pipeline operator in its dispute with Michigan over the Line 5 cross-border pipeline. Michigan-based Judge Janet Neff said the case over jurisdiction belongs in federal court. Michigan Governor Gretchen Whitmer has been trying to shut down the pipeline since Nov. 2020 amid concerns about a possible oil spill in the Straits of Mackinac, which connects two Great Lakes. This is the second time Neff has sided with Enbridge over the past nine months. Benchmark West Texas Intermediate rose 2.68 per cent to US$90.47 per barrel, following a stronger than expected U.S. stockpile report. This is the second day in a row that oil prices have risen. Helima Croft, global head of commodity strategy at RBC […]
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